China Education Resources Inc. Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2022) - China Education Resources Inc. (TSXV: CHN) (OTC Pink: CHNUF) ("CER") today provides shareholders and investors with an update:

The Company has been issued a cease trade order ("CTO") by the British Columbia Securities Commission ("BCSC") for not filing the following periodic disclosure required by the BCSC:

  1. Interim financial report for the period ended March 31, 2022;
  2. Annual audited financial statements for the year ended December 31, 2021;
  3. Management's discussion and analysis for the periods ended December 31, 2021 and March 2022;
  4. Certification of annual and interim filings for the periods ended December 31, 2021 and March 31, 2022.

Further to the CER's press release dated June 15, 2022, CER still remains in the default status of filing the 2021 annual audited consolidated financial statements ("financials") and Management Discussion and Analysis ("MD&A"). The Company's 2021 audit currently remains ongoing and the cause of the delay is because of the COVID-19 outbreaks in China.

Due to the recently outbreaks of COVID-19 in many cities in China, the Chinese government has tightened COVID restrictions and imposed "Zero-COVID" policy leading to lockdowns in different areas of the City of Beijing resulting in the delay of the progress of our audit of the 2021 financials and MD&A. The audit progress is much slower than expected. CER intends to do the filings and any other periodic disclosure required under applicable securities laws as soon as practicable.

The TSX Venture Exchange has not reviewed, and does not accept any responsibility for the adequacy or accuracy of the contents of this press release.

For further information, contact China Education Resources at: (604) 331-2388.

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